37When called upon in CPP, cited above, to interpret the term ‘insurance transactions’ in Article 13B(a) of the Sixth Directive, the Court held in paragraph 17 of the judgment that the essentials of an insurance transaction are, as generally understood, that the insurer undertakes, in return for prior payment of a premium, to provide the insured, in the event of materialisation of the risk covered, with the service agreed when the contract was concluded.